The blockchain shipping logistic company Shipchain is happy to have the cease-and-desist order filed against them by the Securities Division of the Office of the Attorney General of South Carolina removed.
Shipchain was accussed by the regulatory of running foul of the state securities laws during its ICO. Following the cease-and-desist filled on May 21, Shipchain refuted the state regulatory claims, saying that their ICO conformed with all state securities laws and most importantly, they weren't aware that their token was sold to South Carolina residents since they did not sell directly to them. Also adding to their refutation, Shipchain said that their private token sale was held in January prior to moving their development team to South Carolina.
According to influencive, ShipChain raised $30 million in a private token sale in January. Launched in 2017 in California, the blockchain startup aims to solve major problems associated with the logistics and shipping sectors
Trade Alert: As at the time of publication, Shipchain token has jumped 13.99% and now trading at $0.0436 with a marketcap of $8,363,329